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North American Association Network Message Board > Forums > Ask Bill C Merrell, Ph.D.-Administrator > Short Sales
 
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Tesla2012
Registered: 11/30/08
Posts: 1

    11/30/08 at 08:53 PM
Reply with quote#1

If some one short-sells a property does the new sale effect the comp sales on like properties in the future?  Thank you for you time.

12-08 yes- this can be a factor and can create a sub class of lower comparable sales in a neighborhood
 
as of 2-09 pricing has reducd and there is now, more than ever a potential cause and efect on neighborhood values directly effected by short sales and foreclosures
nyprofessional
Moderator
Registered: 12/24/06
Posts: 471

    03/03/09 at 12:17 AM
Reply with quote#2

YES SHORT SALES, BECOME CLOSED SALES, AND THEREFORE COMPS-

IN SOME CASES, THE ASSET IS JUST OVER MORTGAGES, AND A SHORT SALE SELLS THE HOME FOR MARKET VALUE, RATHER THAN THE INDEBTED LIENS ON THE HOME

HOPE THIS HELPS- WE HAVE CLASSES ON THIS TO HELP

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